© Reuters. Breakout for Amphenol in the Charts?
Amphenol Corp . (NYSE:) has been in a sideways trading range over the past few months. If the stock breaks through its resistance level, a breakout could soon follow. Read more to learn how to profit from this trade.Amphenol Corp. (APH) is a leading designer and manufacturer of electrical, electronic, and fiber-optic connectors and interconnect systems, sensors, and cable. The company sells into a broad array of industries, including the automotive, industrial, communications, military, and mobile device markets.
APH is benefiting from a stable industrial end-market and a positive military spending environment. Its efforts in developing high-speed and power products should help the firm gain customers in the IT data communications space. Plus, its growing presence in the commercial aerospace market bodes well.
The company’s balance sheet is solid with $2.4 billion in cash as of the end of the most recent quarter. This compares well with only $526 million in short-term debt. Its current ratio of 2.4 and return on equity of 23.6% are also favorable.
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